Samsung Electronics plans to make global layoffs in order to reduce costs and increase business efficiency. Accordingly, it was stated that the technology giant aims to reduce its workforce by 15 percent to 30 percent.
Samsung Electronics will part ways with 30 percent of its workforce
The layoffs to be implemented by Samsung will cover subsidiaries in regions such as the Americas, Europe, Asia and Africa. The company has about 268 thousand employees worldwide, of which more than 147 thousand work outside South Korea.
The layoffs are expected to affect mainly sales, administrative and support staff. Considering that approximately 25 thousand people are employed in the sales and marketing department alone, it is possible to say that Samsung Electronics will suffer a great loss.
According to sources, the global layoffs have been planned for the past months. The company even started offering severance packages to some mid-level employees in India. With 25 thousand employees, it is estimated that more than a thousand people may be laid off in India.
In China, Samsung announced that about 30 percent of employees in the sales department will be affected. These layoffs are thought to be linked to uncertainty in the global economy, inflation and a decline in chip sales.
Samsung stated that it aims to increase the productivity of its global workforce and that production will not be affected. It is also unclear whether this move will be reflected in product prices.
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